Accordingly, the Circular will eliminate these following circulars which were issued by the Minister of Finance: Circular No. 61/2010/TT-BTC dated April 21, 2010 of the Minister of Finance instructing the exemption of import tax for Single Sideband (SSB) radios granted to fishermen; Circular No. 11/2012/TT-BTC dated February 4, 2012 of the Minister of Finance guiding export duty exemption for construction materials brought from the domestic market into non-tariff areas for construction, repair and maintenance of common technical and social infrastructure in non-tariff areas. The Circular will take effect since March 4, 2019. By Thuy Dung … [Read more...] about Finance Ministry eliminates some circulars on import, export tax
Ministry of finance circular
Le Thanh Thao Li Yong, director general of the United Nations Industrial Development Organization (UNIDO), recently said at the 2018 World Manufacturing Forum in Italy, “Industry has proven itself as an unrivalled eradicator of poverty throughout the ages, by raising incomes, creating added value, and enabling greater social mobility. No country has ever risen to developed country status without a strong industrial policy focus.” However, too often in the past industrial development has also been accompanied by environmental degradation and increased social inequalities. By and large, today’s manufacturing takes raw materials from the environment and transforms them into new products, which are then disposed into the environment after use. Eventually, limited raw materials run out and waste accumulates, either incurring expenses related to disposal or else polluting. For more than 50 years, UNIDO has worked towards a truly sustainable industry. In doing so, UNIDO … [Read more...] about Maximising advantages of the circular economy
The two layers weigh in their opinion about the Sabeco-Thai Beverage conflict A case that may affect Vietnam’s reputation on global markets On April 23, Sabeco will hold its extraordinary general shareholders’ meeting, less than six months after it held the share auction that saw Thai Beverage as the only buyer. According to Vietnamese laws and Sabeco’s charter, a shareholder with more than 5 per cent of the stake must hold the shares for six consecutive months or more before they are entitled to appoint nominees to the board. In this case, as Thai Beverage only acquired 53.59 per cent of Sabeco’s shares last December, technically speaking, the Thai investor has not had the right to appoint and vote its representative to be on Sabeco’s board yet. But should there be an exception in this case? Thai Beverage clearly wants to gain control of Sabeco as soon as possible, having forked out almost $5 billion to buy the shares. This is evidenced in their … [Read more...] about Lawyer talk: can and should Thai Beverage gain control of Sabeco now?
Market value of Government bonds (G-bonds) hit VND1 quadrillion (US$44 billion) at the end of February, equivalent to 20 per cent of Viet Nam’s gross domestic product (GDP) in 2017.— Photo baohaiquan.vn Market value of Government bonds (G-bonds) hit VND1 quadrillion (US$44 billion) at the end of February, equivalent to 20 per cent of Viet Nam’s gross domestic product (GDP) in 2017. The Ha Noi Stock Exchange reported that some VND10.5 trillion ($462 million) worth of G-bonds were traded at each auction on an average in the first two months of 2018. It said sales and purchases of bonds and stocks accounted for more than 50 percent of the total transaction value of the market, showing the market’s high liquidity. This is also good news for investors interested in the bond market. To overhaul the regulatory framework for the development of G-bond markets next time, the Ministry of Finance issued a new circular last week regulating the issuance and transaction of … [Read more...] about Market value of Gov’t-bonds hits $44 billion
Upon the project Trung Luong – My Thuan expressway, Deputy Transport Minister Nguyen Ngoc Dong said that the project investor was encountering financial difficulties because it had not signed the credit contract with its bank because of the high interest rate proposed from the bank under the Ministry of Finance’s circular No.75. In its document, the Ministry required from now to May 31, the two sides – the investor and the bank – must sign the credit contract or else the Ministry will end the contract with the investor, he said. The termination of contract will make progress slower; additionally, the Ministry will select another investor for the project , accordingly, it takes more time and money, he added. Mentioning to a crack on a girder of under-construction Vam Cong Bridge connecting Mekong delta city of Can Tho and Dong Thap province, the representative of the ministry said that this was a rare case in the world, therefore, Vietnam invited foreign experts … [Read more...] about Ministry explains reasons for sluggish traffic constructions in South region